Lightbox shuts down bridal jewellery experiment



Lightbox shuts down bridal jewellery experiment - Artificial Jewellery


Lightbox Jewelry has concluded a trial of engagement rings, indicating that the commercial proposition for many lab-created diamond engagement rings is ‘likely unsustainable’.

In June, Lightbox – the De Beers Group’s lab-created diamond jewellery brand – launched the trial, marking a surprising change in strategy.

The collection consisted of 16 items featuring lab-created diamonds with prices ranging from $AU895 to $AU8,950.

“Through the test, the company deepened its understanding of lab-grown diamonds and evaluated the changing landscape and consumer perceptions associated with them,” a statement from De Beers reads.

“Lightbox will continue to focus on where it sees the most promising future opportunities in the sector – in fashion jewellery and in loose stones at accessible price points – and will not sell lab-grown diamond engagement rings.”

The statement also suggested that retailers would need to sell double the number of lab-created diamond carats every two years to maintain a flat absolute gross profit.

In the latest analysis of the US jewellery market from Tenoris, the price gap between natural and lab-created diamonds is expanding.

“In January 2020, the retail price of a one-carat round lab-grown diamond was 35 per cent less than a comparable natural diamond,” writes Edahn Golan.

“Currently, the price gap is 76 per cent even as the price of natural diamonds is declining. Natural diamonds, with all their fluctuations, are a relatively steady commodity. Lab-grown prices, on the other hand, sink like a stone in water.

“In this case, the body of water is the consumer market. For lab-grown to continue to be a viable consumer product, some perceived value needs to be created. Until then, the lab-grown pipeline is driving fast into a dead-end.”

The research found that lab-created diamond jewellery accounted for 6.3 per cent of all unit sales in August in the US. This was an increase from 4 per cent of sales in 2022.

More reading
A diamond is forever: De Beers announces $US20 million campaign
Crash: Consumer demand for lab-created diamonds plummets
The Inevitable Rise of Hybrid-Diamond Jewellery: Embracing reality
Lightbox begins to offer lab-created diamond engagement rings
De Beers says lab-created diamond category ‘distinct and separate’
New CEO takes reins at Lightbox Jewelry

 





Source link

Web Stories
Artificial Jewellery
Logo
Enable registration in settings - general
Compare items
  • Total (0)
Compare
0
Beautiful Wedding Rings Earring – A look into the finest Beautiful Collection of AD Pendants Have you bought a promise ring yet? There a necklace for everyone. AD – A Collection of Beautiful Earrings. American Diamond Earrings. A collection of Artificial Jewellery – Rings Necklaces and Sets – Artificial Jewellery Trending Anklets Design Trendy Earrings Collection for Women Online Latest Trending Nose Rings Designs American Diamond Finger Ring American Diamond Necklace Designer Jewellery Royal Jewelley Earrings Trending Combo Sets
Shopping cart